As millions of Nepalese are setteled in various parts of India, and similar numbers of Indian in Nepal, there is a economic network established between these two close neighboring countries in individual level. We have tried to summarize some of the easiest way to transfer the money across the boarder.
1. State bank of India and Nepal SBI
As the name suggest , the bank is state owned and it too have its authorized branch in Nepal in major cities. It is one of the most accessible bank in India with its highest number of branches and ATMs across the country.
Nepal to India
One can send money to India by making either Bharat Yatra card, or Demand draft or Bank transfer or swift transfer. If you just need few amount , you may not need any proof, but if you need higher amount of cash, you may need to justify the reason.
For students, you may have to show the College admission details and fee structure. One should have bank account in SBI or it is not mandatory to have bank account in SBI.
You can check more details here SBI
India to Nepal
If you are in India and trying to send money to Nepal, the easiest way to send money is via remittance. You should have a bank account in SBI , and proceed for the necessary steps. All you need to fill forms, and cheque and submit it on the name of someone who is in Nepal with Nepal SBI account. The maximum limit of this transaction is 50000 INR , and charge you minimum cost. It is nearly similar as NEFT transfer where, soon after the Nepali accept the amount it will be credited to recipient.
2. Everest Bank and Punjab National Bank
Everest Bank and Punjab Nation Bank from India has a joint venture. One has to make a bank account for a simplified transaction. It is as simple as normal bank transfer either way. This is one of the cheapest route for banking transaction.
3. Money transfer Agencies
There are some International money transfer agencies which provides the service of money transfer with certain service charge in either route. One has to show the ID proof as a local proof like citizenship/passport in Nepal and Aadhar card or voter ID card.
IME, International Money transfer Express and Western union are some of the famous money and safe money transfer agencies
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